Ant Financial updates payments app

Ant Financial – an affiliate of China’s e-commerce giant Alibaba – beefed up its payments app with a greater focus on local services, and added new features including messaging and P2P money transfer. Formerly known as Alipay Wallet, the new app is called …

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Alibaba builds position in India’s Paytm – report

China’s Alibaba is in “advanced talks” to buy a stake in India m-commerce firm Paytm, as the country’s mobile payments market looks set for rapid expansion. According to Reuters, the deal would see Alibaba directly invest about $600 million in …

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Alibaba unit expected to buy 25% stake in India’s Micromax

Alibaba’s Ant Financial is reportedly close to working out a deal to acquire a 25 per cent stake in Indian handset maker Micromax for an undisclosed sum. The investment in Micromax, the largest domestic manufacturer of mobile phones in India, …

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Alibaba unit to set up internet bank in June

Alibaba has announced that its finance arm, Ant Financial, will set up a private internet bank in June. Ant Financial will hold a 30 per cent interest in MYbank, while the Shanghai-based Fosun Group will have a 25 per cent …

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